Elon Musk Reverts Twitter Logo to Blue Bird, Dogecoin Plummets
CoinEdition
Published Apr 07, 2023 08:10AM ET
Updated Apr 07, 2023 08:30AM ET
Elon Musk Reverts Twitter Logo to Blue Bird, Dogecoin Plummets
- Twitter has replaced the Dogecoin logo back to the original blue bird logo.
- Following the change, the price of DOGE dropped by 9%.
- Elon Musk changed the Twitter logo to the Dogecoin logo three days ago, causing a price surge.
Elon Musk has reverted the Twitter logo to the blue bird. Musk changed the Twitter logo to the Dogecoin logo on April 3, 2023. The move proved bullish for the meme coin as it shot up over 30% following the move. The price of DOGE reached $0.1026 from lows in the $0.7600 range. The meme coin also briefly dethroned Cardano in market cap.
After a three-day stint with its new logo, Twitter has returned to the blue bird, ending uncertainty about the duration of the change. The price of Dogecoin dropped sharply following Twitter’s decision. At press time, DOGE is trading at $0.083, with a 9% drop in value over the last 24 hours.
Musk’s adoption of the Dogecoin logo broke a long silence on the meme coin following his acquisition of Twitter. Early speculation that the platform would adopt Dogecoin caused its price to surge by over 100%. Dogecoin hit an all-time high of $0.7376 on May 8, 2021. However, for it to breach this benchmark, DOGE should attain a new utility that will aid it in reaching new heights.
The recent surge in price has also made a few traders over a million dollars. A trader called “Tree of Alpha” took to Twitter to explain how he made $1.1 million during the recent DOGE rally.
Elon Musk has always touted Dogecoin as his favorite cryptocurrency. Perhaps if Dogecoin makes its way to Twitter, the meme coin will have a new-born utility. His recent action might also be an indication that he hasn’t forgotten DOGE.
The post Elon Musk Reverts Twitter Logo to Blue Bird (NASDAQ:BLBD), Dogecoin Plummets appeared first on Coin Edition.
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